OFS Credit (NASDAQ:OCCI) Shares Down 4% – Should You Sell?

OFS Credit Company, Inc. (NASDAQ:OCCI)’s stock price fell 4% during mid-day trading on Friday . The company traded as low as $2.88 and last traded at $2.88. 166,155 shares changed hands during trading, a decline of 50% from the average session volume of 334,459 shares. The stock had previously closed at $3.00.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of OFS Credit from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st.

OFS Credit Stock Performance

The company has a market capitalization of $83.78 million, a PE ratio of -2.20 and a beta of 0.63. The stock has a 50 day moving average price of $3.63 and a two-hundred day moving average price of $4.55.

OFS Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be given a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 20.8%. The ex-dividend date of this dividend is Wednesday, April 15th. OFS Credit’s dividend payout ratio (DPR) is presently -100.76%.

Institutional Trading of OFS Credit

Several large investors have recently added to or reduced their stakes in OCCI. TIAA Trust National Association bought a new position in shares of OFS Credit during the 3rd quarter valued at $54,000. One Capital Management LLC bought a new stake in OFS Credit in the third quarter worth $58,000. Virtus Investment Advisers LLC boosted its holdings in OFS Credit by 0.9% in the fourth quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after purchasing an additional 3,796 shares in the last quarter. Kestra Advisory Services LLC increased its position in OFS Credit by 32.3% during the fourth quarter. Kestra Advisory Services LLC now owns 82,856 shares of the company’s stock worth $401,000 after buying an additional 20,238 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in OFS Credit during the first quarter valued at about $385,000. 23.77% of the stock is owned by institutional investors.

About OFS Credit

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.